Homework Answers
Answer: $15,000,000.
Explanation: Portion of investment pool received from local governments located in the state is regarded as external part of investment pool which should be reported in State's Investment Trust Fund.
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The state government maintains an investment trust for itself and local governments in the state. The...
A state government establishes an investment pool and invites local governments to participate. It is not...
A state government establishes an investment pool and invites local governments to participate. It is not governed by a formal trust agreement which fund of the state government would report balances contributed by the local governments? Multiple Choice O Custodial Special Revenue vestment True
The City of St. John operates an investment trust fund for neighboring governments
The City of St. John operates an investment trust fund for neighboring governments, including St. John County and the independent school district. Assume the investment trust fund began the year 2020 with investments in US government securities totaling $1,200,000, no liabilities, and Restricted Net Position of $1,200,000.The county and school district deposited $3,200,000 in the investment pool.The investment trust fund invested $1,000,000 in corporate bonds and $2,200,000 in US government securities.Interest received by the investment trust fund totaled $50,000 for...
The City of St. John operates an investment trust fund for neighboring governments, including St. John...
The City of St. John operates an investment trust fund for neighboring governments, including St. John County and the independent school district. Assume the investment trust fund began the year 2020 with investments in US government securities totaling $1,300,000, no liabilities, and Restricted Net Position of $1,300,000. The county and school district deposited $3,300,000 in the investment pool. The investment trust fund invested $1,300,000 in corporate bonds and $2,000,000 in US government securities. Interest received by the investment trust fund...
Which of the following is true regarding pension accounting and reporting? Multiple Choice Local governments include...
Which of the following is true regarding pension accounting and reporting? Multiple Choice Local governments include only the pension plans for which it is trustee in pension trust funds Statement of Fiduciary Net Position. The Net Pension Liability reported by local governments include only the pension plans for which the local government is trustee. no liability needs to be reported for state sponsored plans in which the local government participates. Both of the above Neither of the above.
1.) A government establishes an Investment Trust Fund. During the year, it receives $500,000 from other...
1.) A government establishes an Investment Trust Fund. During the year, it receives $500,000 from other separate legal entities to invest. The Investment Trust Fund should report this activity in the statement of changes in net assets as Select one: a. Revenues b. Other financing sources c. Additions d. Should not be reported 2.) A government receives a bequest of $300,000 to establish an endowment fund whose income is to be used to support scholarships for local high school students....
Listed below are the typical funds that might be used by a state or local government...
Listed below are the typical funds that might be used by a state or local government to maintain appropriate accounting for the various transactions that could occur. TYPICAL FUNDS USED BY STATE AND LOCAL GOVERNMENTS GF SRF CPF DSF ISF EF PF General Fund Special Revenue Fund Capital Projects Fund Debt Service Fund Internal Service Fund Enterprise Fund Permanent Fund REQUIRED: For each of the attached transactions, indicate into which fund, from the given list the transaction would be entered....
Listed below are the typical funds that might be used by a state or local government...
Listed below are the typical funds that might be used by a state or local government to maintain appropriate accounting for the various transactions that could occur. TYPICAL FUNDS USED BY STATE AND LOCAL GOVERNMENTS GF SRF CPF DSF ISF EF PF General Fund Special Revenue Fund Capital Projects Fund Debt Service Fund Internal Service Fund Enterprise Fund Permanent Fund REQUIRED: For each of the attached transactions, indicate into which fund, from the given list, the transaction would be entered....
Which statement about taxation in the United States is TRUE? O a State and local governments...
Which statement about taxation in the United States is TRUE? O a State and local governments rely more on sales and property taxes than does the federal government. b. State and local governments rely more on individual income taxes than does the federal government. O c. State and local governments rely less on wealth taxes than does the federal government. d. State and local governments rely less on property taxes than does the federal government. QUESTION 2 1 po Which...
Public organizations, such as national, state, and local governments, authorities, school districts, and government agencies, and...
Public organizations, such as national, state, and local governments, authorities, school districts, and government agencies, and also firms and individuals in the private sector, are always in a post to make investment decisions. For these decision-making bodies, economic analysis is complicated by several factors that do not affect companies in the private sector. Write a discussion on, what are the factors (minimum of 3 factors / findings) that exist in public sectors that are not ordinarily found in privately financed...
Local and state governments are required to have balanced budgets (expenses have to be greater or...
Local and state governments are required to have balanced budgets (expenses have to be greater or less than the revenues received) while the federal government can (and does) accumulate large deficits T OR F The stage of public policy that most public administration and criminal justice majors will be involved with during the course of their careers is: Setting objectives Choosing to act Implementation Evaluation The type of budgeting in which there is little emphasis on comprehensive change and instead...
A state government establishes an investment pool and invites local governments to participate. It is not governed by a formal trust agreement which fund of the state government would report balances contributed by the local governments? Multiple Choice O Custodial Special Revenue vestment True
Which of the following is true regarding pension accounting and reporting? Multiple Choice Local governments include only the pension plans for which it is trustee in pension trust funds Statement of Fiduciary Net Position. The Net Pension Liability reported by local governments include only the pension plans for which the local government is trustee. no liability needs to be reported for state sponsored plans in which the local government participates. Both of the above Neither of the above.
Listed below are the typical funds that might be used by a state or local government to maintain appropriate accounting for the various transactions that could occur. TYPICAL FUNDS USED BY STATE AND LOCAL GOVERNMENTS GF SRF CPF DSF ISF EF PF General Fund Special Revenue Fund Capital Projects Fund Debt Service Fund Internal Service Fund Enterprise Fund Permanent Fund REQUIRED: For each of the attached transactions, indicate into which fund, from the given list the transaction would be entered....
Listed below are the typical funds that might be used by a state or local government to maintain appropriate accounting for the various transactions that could occur. TYPICAL FUNDS USED BY STATE AND LOCAL GOVERNMENTS GF SRF CPF DSF ISF EF PF General Fund Special Revenue Fund Capital Projects Fund Debt Service Fund Internal Service Fund Enterprise Fund Permanent Fund REQUIRED: For each of the attached transactions, indicate into which fund, from the given list, the transaction would be entered....
Which statement about taxation in the United States is TRUE? O a State and local governments rely more on sales and property taxes than does the federal government. b. State and local governments rely more on individual income taxes than does the federal government. O c. State and local governments rely less on wealth taxes than does the federal government. d. State and local governments rely less on property taxes than does the federal government. QUESTION 2 1 po Which...
Public organizations, such as national, state, and local governments, authorities, school districts, and government agencies, and also firms and individuals in the private sector, are always in a post to make investment decisions. For these decision-making bodies, economic analysis is complicated by several factors that do not affect companies in the private sector. Write a discussion on, what are the factors (minimum of 3 factors / findings) that exist in public sectors that are not ordinarily found in privately financed...
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